India recently broke records with the highest GST revenue collection for April 2024, breaching the ₹2 lakh crore mark. It is the 1.46 crore registered taxpayers who helped breach this record, and this is where you come in to simplify their GST return filing processes.
But can you make things simpler for these taxpayers? The answer is using the top software with the latest features to simplify GST returns filing.
However, there is no shortage of software solutions that simplify GST filings for you, but the catch is to find the right one based on your needs. Finding the right solution here is key to capitalising on the 1.46 crore registered taxpayers filing GST returns.
So, hang on tight because this post will help you find the right software for simplifying GST returns to ensure you don’t miss out on this amazing opportunity. Let’s dive in!
Things To Look For In The Right GST Returns Filing Software
Taxation is challenging for even the sharpest ones of us, and with GST, there are 19 different forms that you need to worry about. However, having the right GST returns filing software does not have to be that difficult.
So, what exactly makes a perfect GST filing software? Well, the answer is many features, and here we will take a closer look at some of these features:
- Accuracy: Taxation is all about making the right move with numbers, so naturally, there is no room for errors. But don’t worry because errors will be the least of your concerns with the right GST returns filing software. A proper GST filing or e-invoice software will ensure proper error prevention, detection, and correction. This goes a long way in ensuring your returns are accurate, leaving no room for errors.
- Return Tracking: Simply filling and signing the return is convenient and possible. But do you want to go on without tracking your return’s status? Fortunately, you don’t have to worry about this with the right GST filing software. Proper GST filing software allows you to track all modifications and inclusions after filing the return to ensure you never stay out of the loop.
- Proper GST Invoicing Features: GST invoicing is another complex ordeal; you need the right solution to simplify these complications. Most modern GST returns filing software should have all the relevant GST invoicing features.
These features include digital signature, seamless e-way bill generation, and in-depth GST report generation. This becomes even more important when you realise that GST e-invoice is mandatory for every business with more than 5 crore turnover.
- GST Reconciliation Features: GST reconciliation is complex, and modern GST return filing software has all the necessary features to simplify it. Keep an eye out for software that offers automatic reconciliation by inputting GSTR 2A or 2B. Also, ensure the software offers a quick summary of reconciled and mismatched statements. Lastly, the software should support GSTR 1 reconciliation and identify missing invoices easily.
Final Thoughts
Granted, finding the right GST return filing software is not easy. But it does not have to be that difficult if you have the right software.
You must remain mindful of all the features above and ensure your GST return filing and online bookkeeping software like TallyPrime has all these features. This will help you simplify all relevant processes and help more than 1.46 crore Indians. So, get started and impress people with the capabilities of your GST return filing software.
